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Country risk, from the local press

Nigeria · Country watch

SERAP Sues CBN, INEC Omits Parties, NAFDAC Alert

SERAP sues CBN over unaccounted funds; INEC omits parties from Bauchi list; NAFDAC warns of banned pesticides in markets.

· · 9 sources

The picture Deteriorating

Business conditions in Nigeria are deteriorating due to legal challenges over unaccounted public funds, political uncertainties in Bauchi, and health risks from banned pesticides.

In this briefing Central Bank of Nigeria · Socio-Economic Rights and Accountability Project · National Agency for Food and Drug Administration and Control · Independent National Electoral Commission

Regulation

  • finance
  • public-sector

SERAP sues CBN over $6.23m and ₦1.63trn unaccounted funds

The Central Bank of Nigeria Headquarters, Abuja Nigeria
The Central Bank of Nigeria Headquarters, Abuja Nigeria GodwinPaya, CC BY-SA 4.0 via Wikimedia Commons

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) for failing to account for $6.23 million in election funds and over ₦1.63 trillion in other public funds. The lawsuit, filed at the Federal High Court in Abuja, follows the Auditor-General's report highlighting these unaccounted funds. SERAP demands that the CBN disclose the transactions and identify the recipients of these funds, according to Channels TV.

Impact Lenders to Nigerian public projects face increased scrutiny over fund accountability.

Sources: Channels TV ↗, Vanguard Nigeria ↗

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

  • agriculture
  • public-sector

NAFDAC warns of banned pesticides in Nigerian markets

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised concerns about the prevalence of banned and unregistered pesticides in Nigerian markets. These pesticides pose significant risks to public health and food safety, according to Punch. NAFDAC urges consumers and retailers to be vigilant and report any suspicious products.

Impact Agricultural producers and food retailers must ensure compliance with pesticide regulations to avoid health risks.

Sources: Punch ↗

Companies

Nothing significant reported today.

Markets

Nothing significant reported today.

Trade

Nothing significant reported today.

Politics

  • public-sector

INEC omits four parties from Bauchi 2027 governorship list

The Independent National Electoral Commission (INEC) has omitted the governorship candidates of four political parties from its published list for the 2027 Bauchi State election. The Social Democratic Party (SDP), New Nigeria Peoples Party (NNPP), Action Alliance (AA), and Accord Party were not included. INEC's list features 15 candidates, according to Daily Post Nigeria.

Impact Political parties in Bauchi State face challenges in the 2027 election due to candidate omissions.

Sources: Daily Post Nigeria ↗, Vanguard Nigeria ↗

Also today in Nigeria

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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